Home improvement retailer Lowe’s (LOW) has reported mixed second-quarter financial results and retained its full-year guidance as it sees weakening consumer demand heading into the fall.
Lowe’s reported Q2 earnings per share (EPS) of $4.56 U.S. versus $4.49 U.S. that had been expected on Wall Street, according to Refinitiv data.
Revenue in the quarter totaled $24.96 billion U.S. compared to $24.99 billion U.S. that was anticipated among analysts who track the company’s progress.
Lowe’s maintained its full-year forecast, saying it anticipates revenue between $87 billion U.S. and $89 billion U.S. It expects full-year EPS of $13.20 U.S. to $13.60 U.S.
Comparable sales decreased 1.6% in Q2, which was better than the 2.6% decline that analysts had forecast. The company said consumer spending had softened heading into the summer.
Lowe’s stock has risen 4% over the last 12 months to trade at $217.59 U.S. per share.
